Hsbc Holdings PLC raised its stake in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 4.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,848 shares of the technology company’s stock after buying an additional 3,419 shares during the quarter. Hsbc Holdings PLC’s holdings in CGI were worth $5,241,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GIB. Tower Research Capital LLC TRC purchased a new position in CGI during the 2nd quarter valued at about $124,000. WCM Investment Management CA purchased a new position in CGI during the 2nd quarter valued at about $212,000. AE Wealth Management LLC purchased a new position in CGI during the 2nd quarter valued at about $268,000. Dean Capital Investments Management LLC purchased a new position in CGI during the 2nd quarter valued at about $397,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in CGI during the 2nd quarter valued at about $449,000. 58.10% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE GIB opened at $62.54 on Friday. CGI has a 12 month low of $52.55 and a 12 month high of $66.53. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.86 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. CGI had a return on equity of 18.05% and a net margin of 9.92%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. CGI’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that CGI will post 3.54 EPS for the current year.
A number of research analysts have weighed in on the company. Desjardins reaffirmed a “buy” rating on shares of CGI in a report on Friday, November 9th. BMO Capital Markets reaffirmed a “buy” rating on shares of CGI in a report on Tuesday. Zacks Investment Research raised CGI from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Wednesday, October 10th. Royal Bank of Canada boosted their price objective on CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. Finally, Raymond James reissued a “buy” rating on shares of CGI in a report on Wednesday, November 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. CGI presently has a consensus rating of “Buy” and a consensus target price of $77.67.
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CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.
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